Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Portfolio > Alternative Investments > Hedge Funds

Fund of Funds Partners with Debt Specialist

X
Your article was successfully shared with the contacts you provided.

BALTIMORE (HedgeWorld.com)–Growing from a small fund of funds born out of a family office, Meyerhoff Investment Holdings is prepared to expand further following a joint venture partnership with Four Corners Capital Management.

Joseph Meyerhoff II began offering a fund of funds based on his family’s $100 million-plus hedge fund portfolio back in 2002. Since then, Meyerhoff has attracted $50 million in high-net-worth investor capital, and the firm has registered with the Securities and Exchange Commission.

“We have a tremendous amount of capacity in the fund with a lot of closed managers and managers we think are pretty unique,” said Mr. Meyerhoff.

One of those managers is Four Corners Capital, which offers capital preservation and non-correlated returns through a senior secured bank loan investment program that focuses on short-duration, floating-rate debt. The strategy was developed by Four Corners founder Michael McAdams, who has spent 20 years in the field of leveraged finance.

Based in Los Angeles, Four Corners is a majority-owned subsidiary of Macquarie Bank, of Sydney, Australia, and manages roughly $3.5 billion.

For Mr. Meyerhoff the joint venture provides a “great opportunity” to take advantage of a very large institutional infrastructure offered by Four Corners, which will handle all back-office, compliance and administrative work for the onshore and offshore funds of funds. As a result, the funds’ general partner will be called Four Corners Meyerhoff Investment Management LLC, and the funds will also be renamed the Four Corners Absolute Return Fund LP (U.S. domestic fund) and the Four Corners Absolute Return Fund Ltd. (offshore).

The deal also provides increased distribution for the funds. Mr. Meyerhoff will continue to offer the funds as an alternative to fixed-income for high-net-worth investors, endowments and foundations, with a soft close planned once the funds reach $500 million.

Strategies included in the funds of funds are distressed debt, event-driven, merger arbitrage, capital structure arbitrage, fixed-income (Four Corners strategy) and structured finance.

[email protected]

Contact Bob Keane with questions or comments at [email protected].


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.